Lipscomb University
- Assets
- $502.8m
- Revenue
- $216.3m
- Investments
- $109.3m
- Employees
- 2,690
- Location
- Nashville, TN
- Founding
- 12/1940
- Data as of
- 05/2021
- EIN
- 62-0485733
Organization Overview
Lipscomb University is located in Nashville, TN. The organization was established in 1940. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2023, Lipscomb University employed 2,690 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lipscomb University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2021, Lipscomb University generated $216.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $206.3m during the year ending 05/2021. While expenses have increased by 2.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lipscomb University has awarded 17 individual grants totaling $147,052. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. LIPSCOMB ALSO SEEKS TO MAKE A POSITIVE DIFFERENCE IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL AND BEYOND WITH LIFELONG LEARNING.
STUDENT SERVICES:ENGAGING STUDENT LIFE IN A DYNAMIC AND DIVERSE COMMUNITY THAT GIVES STUDENTS THE OPPORTUNITY TO BE REAL WITH THEMSELVES AND EACH OTHER WHILE PROVIDING OPPORTUNITIES FOR SPIRITUAL FAITH DEVELOPMENT THROUGH SERVICE AND LEARNING.
AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael F Adams Trustee | Trustee | 1 | $0 |
Buddy Bell Trustee | Trustee | 1 | $0 |
Ernie Clevenger Trustee | Trustee | 1 | $0 |
Richard G Cowart Trustee | Trustee | 1 | $0 |
Diane Creel Trustee | Trustee | 1 | $0 |
Morgan W Davis Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc And Affiliates Food Service | 5/30/23 | $5,618,900 |
Insight Investments Llc Techonology | 5/30/23 | $2,268,552 |
Case Restoration Co Construction | 5/30/23 | $2,096,039 |
First American Equipment Finance Financial Services | 5/30/23 | $1,589,300 |
Slingshot Lp Academic Services | 5/30/23 | $1,570,162 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,228,701 |
| Investment income | $1,004,544 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $23 |
| Net Rental Income | $1,288,160 |
| Net Gain/Loss on Asset Sales | $3,211,203 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $216,257,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $51,728,047 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,447,643 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $64,498,112 |
| Pension plan accruals and contributions | $985,149 |
| Other employee benefits | $6,841,537 |
| Payroll taxes | $4,762,295 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $133,115 |
| Fees for services: Accounting | $72,632 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $330,219 |
| Fees for services: Other | $3,229,964 |
| Advertising and promotion | $2,074,266 |
| Office expenses | $8,998,646 |
| Information technology | $2,803,020 |
| Royalties | $0 |
| Occupancy | $2,559,292 |
| Travel | $1,889,825 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $822,837 |
| Interest | $7,093,291 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,620,261 |
| Insurance | $8,343,241 |
| All other expenses | $0 |
| Total functional expenses | $206,269,469 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,346,171 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $28,116,466 |
| Accounts receivable, net | $14,712,281 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,256,047 |
| Investments—publicly traded securities | $2,410,325 |
| Investments—other securities | $109,329,016 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,855,728 |
| Total assets | $502,799,879 |
| Accounts payable and accrued expenses | $20,875,481 |
| Grants payable | $1,248,268 |
| Deferred revenue | $12,280,560 |
| Tax-exempt bond liabilities | $203,952,325 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,700,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $41,227,534 |
| Total liabilities | $281,284,168 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $221,515,711 |
Grants Awarded
Over the last fiscal year, Lipscomb University has awarded $35,802 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BEST BUDDIES OF NASHVILLE PURPOSE: IMPACT DONATION TO BEST BUDDIES OF NASHVILLE | $10,802 |
NASHVILLE PUBLIC EDUCATION FOUNDATION PURPOSE: 2022 HALL OF FAME LEADER AWARD | $25,000 |